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Show . 1 'im salt lake jit Saturday august n uiuautjjrr nkWc 1935 Tin arid Silver Break Sharply; Base Metals Hold - q I - - Developments Along Oquirrh Stir New Mining Intereist I metals copper, lead and zincsold Sn fan Major volume in the week ended August It, and prices were firmly maintained in anticipation of a broader market as the fall season approaches, slates Metal and Mmeisl Markets. " Interests, so tar as pries move-- . ? meats aers concerned, centered silver. 'lhe broket lormer tin and 1 T1 prospects u. sharply in London on larger supplies on recomendatioic.1 by the International Tut committee to increase production for a per iod ot three months to f per cen . ' of standard tonnages. Recent developments in the Oquirrh range between Binghntn and Mercur, Utah, on the vast Oquirrh range mineral belt, ha greatly enhanced the outlook (or that section of the state, declare' J. R. Walker, president of the Tintic Ophir Mining company, in s statement Issued today. Soma time ago tb W. P. Bnjr I'der loterwt, purchaxad the old Tka nT Mercur Iex, 111 Xttlfklyl X A gold mine from tha George H. Dern at Mercur. Lease U have been lt there ard some of the non-ferro-us f y - . -- in'-j-- v il lplfn i & I f Shipping Ore Sliver declined 2 cents per ounce New Add Operators last seek on heavy selling in London by China and Indian specImprovements At ulators. Copper Cnrtianged Sufficient business is oeing look d daily to Impart a firm tone to the Charm Gold Since tho domestic copper market, but! Mining acquiring 35 miles north- the movement of the metal of con- west of property Delta. Utah, in the Drum sumers is evidently not Impres- mining district tho new owners, sive enough to bring about the M. E. Roundy end associates have higher trading - basis that man) added improvements. The road to in the industry- expect Salts for Delta from the mine has been im the week amounted to about (.SOU proved, gallows frames have been tons.- - indicating that producers are added at the mine as weU as minbooking about 1.000 tons a day ing can and track, hoists, engine. According to a record of sales kept ore bins and other equipment A platform has been built at the by the United States Copper asso-- j elation, li. 14S tons of oopper were railroad loading point ensbUngsold, by members of the orgamza-- j trammers to onload ore directly intion In the first thirteen days onto trucks the current month. The price hell! Interest has been revived in the at Sc Valley. property since the advance in gold Though new business in copper to I If an ounce, products is somewhat spotty, pro-- 1 The mme was originally operatto ducera appear satisfied with the ed for a little over a year prior BO rats at which the metal la mov- 1904 and had produced about But in 1904 with ing Into consumption. August de- cars of gold ore. liveries in the domestic market. gold at 519.00 an ounce operation were The prohibitive. from present indications, will be, expense those of July. A fa- - mins closed down with ore plied larger than vorabfs- - developmem ts the trend rrut on Ihe dump. A stagls-le- ad toward Increased diversification In of it brought f 1.099 00 this year. officials report. demand for copper products is ly in the year the bulk 'of ihebust-new- of Athepecutiar factor timbering la still In excellent pointed chiefly toward auto- condition to idea! due the temperamobile activity. in the mine The foreign market waa a quid' tures and conditions . ,, 94 affair, with consumers still puxxled h m hj' timbering has been over the conservative sates policy J?11 or eertsln Important domestic d"e T?e,t,ne.baf producers Hpwever. U can be Ut- - - jteral. 4 that a number of foreign pro4 ?? gf ducera are in mpathy with the rOflUCt VJCtS idea oft moving cautiously in the matter of raising price. On. yesranged terday's business. prices from T.85r, to 7 92S f c.i.f. usual of the appoint Annoumemenl porta The decline in tin had some mnt ot Oliver C. Balaton, of Clark Influence on copper In the foreign dale, Arizona, as aupervwing chemfield toward the end of the week ical engineer, of the Nonetah Lead Firm at 4.20c Mineral Experiment Station, of th Tho volume of U xd sales for the Bureau of Mines. fepartment of the Brunswick, N J last week reflected an average Interior, at tNev W. is made by John Kincb, director week's business. with total sales fo of Balaton bureau the mines a little more than 3.200 tons Moat succeed Dr. Marett P.Mr.Partridge of the tonnage bought was for Au- who tesigoed to enter private eta gust delivery, with a fair amount ployment. Mr. tubtoo entered the service for September shipment. Producers believe the market Is In a of the bureau of mines In 111! When United States entered the strong position, with sales easily World the war he reeigned to engage of taking care of current production in technical supervision thi Acocrdfng to producers, require manufacture of monitions at Kiag ments for September are only ars Falla X. T. After the war. Mr returned! the bureau of lightly covered, and a good volume Rslvion where he remained for elgr of business la looked for In this mines, time as so direction soon, and some observers years, acting for some of the Pacific engineer pcrvislng say a spurt In buying mayjead to experiment station. Befkeley, Tali an increase in the price. The quo- forniJL For the past seven years tation held at 4 10c. Xew Tork he has been director of research for at the contract settling price of the the United Verde Company American Smelting A Reftnlnv Clarkdale. Arixona. now Balston Mr the 4 15 and Company, fit Louie gt service as supervising chemical en Joseph lead continued to sell IN gineer of the New Brunswick sta own brands In the east at a pram tion and will also havs charge of ium chemical Investigations looking toTho London lead market bar ward the development of the Imremained firm on continued good portant nomnetallie minerals m experiment stations of tfc buying, and during the- - week the other bureau of mines. spot quotation scored a moderate Mr Ralston was horn In Colored' advance, from IS pounds 10 shill- 8trings. Colo, September 4 He waa aesayer, chemist and tea' Iings to 1 15 per ton. ter of thmltry LeadvIUe. (oia Zinc Finn mt 4.50c Trading in dne was on a reduc- from 191S to 1912 chemist, U Pa9 ed scale the turnover for the week bureau of mines, Pittsburgh, 8lt Lake ended Aug 10 amounting to a Cltj, Utah. metallurgist, J914-1metallurgist little more than 1,769 tons In Hooker Electrochemical Companv view of the fact that the sales for Niagara Falla, N T., 1PI7-2assistbuthe preceding seven-da- y period ant chief metallurgist V & director of were large, the decline- - 4w sale reau of mfnesJL92-2f- t for reaarch the Verde Com United volume last week had no influence since on prices. Producers regard the pany Mr RaJston Is the author of market as firm at 4 SAc. St. Louis, number of technical books and ar particularly with concentrate es- Helen, tablished on the higher basis of $30 per ton. The reports on the state of business in galvanised products remain good, and sellers NBW YORK. Asg 17 Statistics apof glno find further encourageduring the past veek tsdicatsd ment In the in creased rate of op- pearing a mixed battues tendency, according erations in the steel industry With tn Moody Index figures for freight ear automobile production again In- loadings, electric paver production, and creasing after the summer shut- An! tagot mtpvt down at several Plants, the de- These Index figures aro adjusted for waoonai ra nation thst U. ip the change mand for high rade sine is frmm the prevtona week should coincide to fm prme with tho norma! seasonal the ' "l - via atltl - In the rtJ - ir S- fr .iy ir nttXg....-. -e. ; a... , - . - a. --e- .r- ti.ie .. ei ... . e h; s !" on. ir -- ttiat-irrur- '(urns I C r J -- Tin 1 1 . kfiirliaj OlUUltll asers are getting immense r- -I on the high grade gold ere which they have developed; some as high M ,of this ore tarrying prr ton 111 oM- Rocky Mountain Area'1j Mercur is about two and half to three miletf' south of the To Undergo New Tintic-Ophproperty," Mr. Walk, said Ir the Tintic-Ophor Survey prop this Mercur gold ledge cone ;er!y WASHINGTON. (AR) tmuee for several thousand feet Aug. of P.ockj and hag never been prospected to A general eurvej Mountain oil field and refineries any great extent. There is no reels planned by the United State, non why good gold values should not be dtieloped in the Tinttc- bureau of mines Plapa came to light with the Ophir property. This immense gold announcement by John V. Finch, ledge, or reef, parallels the great director of the bureau that the silver zone that passes through tho petroleum field office at Laramie. property property is being reopened as a re- - "Id the Tintic-OphWyo suit of a provision made in thecr'e are four oronefive different being tne interior department appropriation honioi, the top next, the Hidden for eatabliahing and operating the Humbug, the Buck Horn, and others station on the Univers ty of Wy- - Treasure, jdown to the Ohpir Hill formation. oming campus from Clark took 'laboratories for the u tw,h'th Office, and HUona o staff of petroleum engineers and dollars Hill The Ophir propertychemists are now in temporary Tinticthe but" b'"mov'ed""uTte'r w'iff qGirti'm PleaUy adjoin, on new building to be erected Ph,l to h,nor,hthe TtnticOphir property million dollars have been taken out of the upper, or Humbug, forma tion No work has ever been don on the underlying formation. 'T'rom th e" Ti n 11 r prepet. , ty there has been developed an the in Hidden ,tlle body X5J VheTlorkr .'ln' Mountain states Treanure From good Information. obtain t data concerning understand that this ore body in uryy problems Involved in development, 20 thlck ,nd carries value and operation of the fields and In of g t0 on Oliver, it to 10 per tho refining and utlliiation of oll,cent i.ad)0 ,nd th, ,,m, percent-producia the Rocky Mountain ifl nQC This development on I Tintic-Ophths north of the Finch said following this ur- - property, together with the gold rey, apeciflc problems in pejrol-- J development to tbo oonth at Mer-eu- m engineering win be studied cur, proves a. very highly ralner-b- y the of the principaiVlxed ore son of both gold and . objectives will be to obtain In- - silver, as well as rhe base metals, formation helpful m the refining of perhaps four to five mile In and use of the Rocky Mountain' length. These two developments, black oils. w hen you consider that these prop The studies at Laramie will be erlies are practically in the hack correlated wltlj the unified pro-- yard of the emclters. where freight gram of rrsearch in the petroleum rates are the minimum, surely and natural gas division ot the! mean big things for the mining bureau of mines carried on at the industry in the future. As president of tho Tlntie-Oph- tr Bartleevilie, Okia., experiment station and field offices at Dallas company, I deem it proper and Amarillo, Tex. and San Fran- to let the stockholders of the Tin. cisco. company hare a littla Finch laid at the bur- Idea of what is going on in thin section eaus petroleum present tho Oquirrh range, and of studies refining will be made at Bartlesville and let them know that the Tintic-Oph- ir Laramie and the work of tho two property la la the heart ot stations will be planned with the this district. "The two big development objective ot obtaining fundamental data tHat are lacking and for which 1 havo heretofore mention, ed are no doubt the largest diswhich a need esats. The bureau's technical work on coveries that havo been made in Getting for many yeara petroleum Including th studies at! this state t Mercur Laramie is under genera! super - j,l,ae t1'11 gold value-amind the that demonstrate to my vision of R. A. Cattcll, chief on roes time as belt cold Mercur innear of ths bureaus petroleum will prove to be s. treat fold pr and natural gas division. Harold P Rue, Harold M ductngr section.' Thorne and Ralph H Hspacb have, , - f, t ed ir j Uultlll taff.-On- O v.f 1 4 jLT - 3 r r7vS 'rtevy: 7 SHAaseoC.. . dt e x a.-- ,. 4f isaiSl - putty' -- f-- r t5 $ , ,;. j .srtCSi , v - e lr r -- I i f9 J.y vv W v. Ay t a tt y a- ti , --t r- - V M v 'ZCH3 if ,a., x t A ijZt.i&ZzX u 2 ; .b"yeTnond ,orTbe1lraBmle in' n- office. RuTnm be su pervitin there TPl0bnbdevriorPInd eineer Thorne , ev , j- ctaSKS Problem, involving thftre h11 PrUaI 7 rc'tning of petroleum and Espacbi mill work oa petroleum production developed six thousand tons, all metal will at which present of probSems. prices for gold and silver averago ton. to close $20.00 per -Top in a t lew of the International Smelting world at Tooele, C'tah. The copper plant h lieing pul in shape for reopening this Owing to the isolation of th property 39 miles from a railroad, fall if conditions permit. Center Is a i lew of the Waller Mining plant at Plumas counts, California, and below U the Mountain and about an additional 400 miles (.11) txipper property at Mountain Lit), Nevada, which will ship to the Tooele plant. it is not ecoby rail to a smelter nomical to ahip crude ore direct to a smelter as the freight rate n Imjirovement in the capital gootl, induvtneg is graduallv being "T"" say 990.00 ore. which is about ths teflwkd in. mduvti'ie proiiucmg raw materials. Western mining lowest Miner Gold Grants grads of crude ore that new and life districts, tlie jircklurers of tiae metals, are taking on foulff be sh ip ped profitably (and Lea this would havs to b sorted) Is On Its the outlook is good for (lie Mum of hundreds of men to regu'ar 99.79 per ton. In addition to this, cmplo)ment. I tali. Ihe leading mining and (melting center m Uie tho treatment charge by th smelProperty world, should benefit materially from this improvement ter is 99 90 per ton, meaning a total Arrangements for the treatment of $19 25 per ton transportation Reopening of th Walker Mining or If the from the Miners Gold and treatment charges whll of property at Piuman county, property at Midas, Nevada, and milled in tho camp th total cost fomta. now looms as virtually a the execution of a leas on the would be 99.00 per ton, or a saving certainty, and the Mountain City Copper property at Mountain City, property m hich resulted in Its im- of 910.25 per ton aa against direct Nevada, may be placed on a promediate reopening, are announced shipments to the smelter. It baa, next few In a letter being aent out to stock- therefore, been the policy of your ducing basis In th months. holders of the cpmpany directors to (exert every effort toThe letter, in part, follows: ward having the. ore milled In th Both these properties are copper our con Since last are and dated camp before making any further producers, primarily, report Partneiee 15 1934 vour nronertv has shipment president nount to thr smelter, and aa trolled by th International Bmeit-In- g increased to buying industrial equip- - August change operations st the Tooele 0 th Colorado School of Mine ont stated above, such an arrangement nd Refining company, which closedo in- - ailment index figure weald b vnehasged. lead smelter from etx to eeven days state, nd, 1A bient vn onenadv the hlle at smelter an owns been Idle v our wmpa .worked out. has the copper CarJd gs. Hlectnc. Meet Comb designed to nmu'.se home ou h5 it poemble to repay the toan,dbaa of the The Utah. The To take advantage of this situaunable to finance a mill Re--1 fLl Tooele. increaited States of United Smelting. profits. emoltrr will follow tion your directors have granted a ji'J Tooele copper 'scohasnoiT'wcn11 barged 'to and Mining company dX fining Industrial modernisation kians tt shortly th Inauguration of pro- - now lease whereby the company is to re65 erecting a new f,IhiatimHritv,met " needs of inuitnaj plants under FHA insurance apply to new,P suspende'tniTvoTT'duction from thr Walker and ceive the prevailing camp royalties will mac hincrv to be mstai.vj as lnfludin snd ni'tlo Maun tain City, which will be opn- - which Tin production quotas of the nfrT. e Th?ch tln'" llr on all production. The ipseees hav a 11 n . of its 1 from -estabfixed of ;ne If toj In orr to ed equipment the ignat government a lending production simultaneously. directors have bcop unceasing in now started operations and as soon Th. FHA is not waakty tons per day. The new addl- is ... ; control srbeme will be raised imof the ,lfl OT ( opened at all. I US. bjr Maatfyx 1 Dr. .(kwiw to bring about an ss milling starts your company will (Casyrlffkt. irrt( ihe from the current rate of he build: rmuraTchangw mediately Tooele smelter will open employ- tion will coet In will neighborhood t, the Ido to Kntraent receive monthly settlements. be S per cetit of itunilaH of 920S.S9S and ready forjhte new errengemeat w hereby ihe ore. now ,B5s tonnage fof'SfW men. m An additional advantage! is that ills the micht b- to IS per eepf White Lead Sales Up ment mhc01fr.nan'1 toVhollnr The government ur.o? w m te on work tocat Rehabilitee bankscr .ready Th American Smelting re Malay. Nigeria Motherlands Domeetle shipments of white lead 1he lw, oflreaUd sndmarketod. We are now the lessee havs ths right, - Bjt ,h,y do ,nf;iu4 HA nnt tiiin-and ladles Bolivia. n ions, ' ' Ead later date, to continue the ainkinf .irrun oil for the first six months of "oasulUnK engineers as part of pleased to advice that This Increase, about ? per cent and 11 were IS per cent greeter then , bmsnt has been mado v,hirh should 'of th now abaft which in now To larger than generally anticipated during the correepondlng to Its former schedule of only o tnd revenue j down iKty frat and this la szpoctad at period productive was decided soon to rplfeve the of 1954 to a statement of wl will commeosswiilua the next a few month run out of each year loans as come within the de ftmtion- . that lima develop a greater amount to develop additional ora bodies. shortawe In prompt and nearby tin Th Leadareordlng AtnOTl4 ines kinja of au.pmrni 94 modemisaition of plant or equip j Industries Assoelation. fsw weaks. that threatened to become even uh FHA may b mnt. to $id9&$ limit lor tb op more serious before the end of SepDerision on th TaRxD or (rrari r. raicrs bor- - insured loan. aceorling to Dr. single plant r property X bowNEW TORK. A or. IT The A.wcl.le4 tember. - Parmce, arc crtidbmsf and prind-Wrower with veral plants, The world's visible supply of Ho ProtM h1Mia prir hidax of II Uaaie ths fttot NKW TOR If, A qc and genera-eac- h 1 motors m for ioy muchmcry. eammadiffM tadsv 13.92. carry-ove- r a fth 4P Ay borrow to ths roit im tiara Including 1 the ssstem FrtkTisss day 72.93 wotk ssa 73 H. for modernization pur- - or. converter be ts, aeren, track,on Aug was IS 4ft? tons. hr wMhoot s Thh month fen. a waak has plant 4 71. yas r 47 44. isktpa and ragoa. aerial tramThta aacouracea iendin? pooea. isffi usTarorahia div i4a4 rhssa, compares 4 with 13 773 tons a Rangs sf ft mat jrasrata tha rwrUr rapart of th ob tba pan of the bank and pro- As tons two years pre pumps, and miii equipment sgo and 133 1924 193 tsiMlar4 Statist Ir Co rarb!o-efeiias visas. World consumption of unle. flotation marhlnes. of Tides uh tba cash for porch i! If. ti 24.37 v,din condUious warrant hy Oc- durins tha vaek aumharad 14 siraiiwt has averaged close to 15 as ton TarituSad to equipment that mar ba needed to cUaaiflera, thickeners and 7 in tha RKTimw n$34 Vrerair. wih t. I . S month In the flrwt Wpte l jtober 1. tho mine will be placed on this i in fatal war sijrht extra sad (hr Minmj companies that Mould spcrxtmc cuit or to a producing baris. operating at The total chars like to borrow tuone t j pun hae rrrue fiarmsat. lpart capacity. The milt will , be Bitial All officer of Ganarm! for tbapfficteocy. aed dirarto dio- exceed cannot to bnn? loan plsrtn up equipmrn: placed in operation and the Con- -j Mills (JftoaaasolM). vara st to he conclude. should con centra tea shipped to Tooele for th ijibmI moat to y art ardT accord's count per ll$9 original face amount MONTHLY INSTALMENT LOANS lora ta ob their to bankrrssni be pi.d sote a "Qt ta ss assstmr wont hr Poosld U Dark, smelting. ! a cuss of This iastaUmentothe thr rettlnr qxwsibllity imecsd ytiAfML Dai QUARTERLY PAYMENT LOANS Besides the copper content, th ataefias of C. B Lott as vHo qryaidat equivalent to aa interest change of modernization loan 'under the FHA ore from tb Walker ear STRAIGHT LOANS Insurance whole process plan." per cest. Tbs and stiver. In 1931, th last year sad of d A Kosttodr Ralnh 9 Baraoa of operation the company pro-da- and H W Patttbono u rk orooidaots 1aE ara members of the CU. a t Baffhla. ON IMPROVED. 12,95 291 pounds of cop- aT ths WsBfehvra Croshr per. 922,42. 9 ounces silver and Both Milt'f qaaociatad cowyaalas of GB-r- rl cage Board of Trade and CITY PROPERTY SALT LAKE 13.(14211 ounces of gold. During Tha tota! mrtt of It Tf .are able to give yon prompt thia year the mine was operated st Pmrlv from tofir Jaw 7 t Asg ff;T Issues OaTs si (a I Sli 09 kmc toss, coatparad vttb only a small part of capacity. quotatisos and execution of nr Bra 4 The Mountain City Copper has ,144 Ml la the mbm piM a yor dsn. ' ore ceordtof to tha sscsr toatltat Barlsy 200 tons of OUER the feolitie, of our oraaizstioa approximately Lard la ths aam ports wars 2.744,94 iivaria stockpiled which waa mined dur- km acmieof MM.tH 8uar V aim hav priests win conto inveuor and brokers who sib evptculiy of development ing the course Silver work. It is planned to move this nection with E. X Piece X TiKAftnr pownov Cottgn wtrrcMed in mourn nnx. ore to Elko, Nevada, a distance of Washington, ah it. (ap Th14 Bubhor OFFICES: 4- with branches in principal 9 miles so that tt will be ready psoMtioa of tbstrsosor? oa Aacast i " But ur Shies throafhont America. for shipment to the Tooele emelt-i-ir wa: 99.919,749 tmmtyHMs 19; Roctlpt xpSDtUara when needed. Any additional ore 94. 91.444.. Mt hlBBtq Lm Am grfc, I 49 tocoipts foe tba ssoath. during future development sis. 17 141 197.44. work Win also be shipped. Xwhr for tbo ftoesf ysr falaeo SmmtXtg In addition tt these possibilities n.Raraipt 1472 443.134 22: axpesditaraa. 91.941. i I Sdtlmkt That tt tx eleo encouraging 3L larhadtC UMijUlLM BOOTS COKMODITIBB J of . tfrx9 MS Mala the production of stiver. lead and wMtmfr 'rpro4 OjAs 4944 924 OaM, Brass line are Increasing and at the ! t1t.4S9.443.43, t AmM of f same time stocks of the latter two 749 74 andar fho pr rfcja OaT 644 1i ars not Increasing. Receipts at lo- 9.19LNM97.M v- - ' . r -- l7 Midas Mine 1912-19- Being Opened 0 Business Indicator er - Tin Ouotas Boosted To fLhat L ' Per Cent lil lS if-- pert.Lr,. "x'j mirm ' LnndV.hh.TvrcPn'rd.' s?.? SWoWwWb'H rurvsueh dold :Pcbic r, biin wr tr 2? HOME LOANS - fUters-redne- vk one-ye- ar COMMODITIES a LOWER INTEREST RATES da, t m C. - iri Pre. Pett Morris Jnc. root till, LsU City 414-4- ' - ? li'w Wtslem FIRST SECURITY TRUST CO. Main Street Opposite the Postoffice A t K |